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ALTEO Energy Services Public Limited (ALTEO) Fair Value & Analysis

Utilities · HU · Market cap 66.3B HUF

AE ALTEO Energy Services Public Limited ALTEO · BUD
Price4,450 HUF
Fair Value2,309 HUF
Upside-48.1%
Quality39/100
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Expensive Growth
Thin margins · 0.2% net margin
Moderate debt · negative free cash flow
Trails peers (2/9)
Narrow moat 29/100
Evidence: High Range 1,732 HUF – 2,887 HUF Share as image

Fair value as of: Jul 14, 2026

From 16 valuation models · updated 27 days ago

Fair value updated Jul 14, 2026, revised from 3,587 HUF to 2,309 HUF (−35.6%) since Jun 24, 2026. Share price +27.1% over the past month.

Below-average quality, and screening another 48% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (2,887 HUF). The favourable scenario is already priced in.
  • Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

6,620 HUF 1,039 HUF Fair Value 2,309 HUF Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range 1,039 HUF – 6,620 HUF · fair‑value band 1,732 HUF – 2,887 HUF · the 4,450 HUF price screens above the 2,309 HUF fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

ALTEO Energy Services Public Limited (ALTEO) currently trades at 4,450 HUF, while our model-based Fair Value estimate is 2,309 HUF, implying the stock looks roughly 48.1% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Utilities sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, ALTEO Energy Services Public Limited generated revenue of 131B HUF at a net margin of 0.2%. Revenue grew 24.3% year over year. It earns a return on equity of 0.5%. Net debt stands at 45.9B HUF. Fundamentals as of Jul 14, 2026

Our scenario range runs from 1,732 HUF (bear case) to 2,887 HUF (bull case); at 4,450 HUF, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 21% below its 52-week high and 37% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -30% fair-value upside, at -48%, ALTEO screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income 1,582 HUF 1,639 HUF 1,700 HUF 76
ROIC Compounder 1,424 HUF 1,961 HUF 3,133 HUF 72
Gordon GGM 91.93 HUF 191.14 HUF 303.22 HUF 70
All 16 models by family
Earnings-Based
Graham-Dodd 872.47 HUF 6,084 HUF 8,539 HUF 54
Lynch FV 2,206 HUF 3,151 HUF 4,097 HUF 50
PEG = 1.0 2,206 HUF 3,151 HUF 4,097 HUF 46
EPV 1,424 HUF 1,961 HUF 2,431 HUF 59
Dividend Discount
Gordon GGM 91.93 HUF 191.14 HUF 303.22 HUF 70
DDM Multi-Stage 91.93 HUF 161.17 HUF 200.61 HUF 61
Multiples
P/E Multiple 1,732 HUF 2,309 HUF 2,887 HUF 63
P/S Multiple 1,636 HUF 2,181 HUF 2,726 HUF 58
P/B Multiple 1,636 HUF 2,181 HUF 2,726 HUF 55
EV/EBIT 3,645 HUF 5,459 HUF 7,274 HUF 53
EV/EBITDA 5,122 HUF 7,429 HUF 9,736 HUF 54
EV/Revenue 2,604 HUF 4,492 HUF 6,379 HUF 43
Asset-Based
NCAV (Graham) 996.42 HUF 1,335 HUF 1,993 HUF 50
Economic Profit
Residual Income 1,582 HUF 1,639 HUF 1,700 HUF 76
ROIC Compounder 1,424 HUF 1,961 HUF 3,133 HUF 72
Growth Earnings
Growth-Adj P/E 2,685 HUF 3,835 HUF 4,986 HUF 68

Widest divergence: Growth Earnings (3,835 HUF) versus Dividend Discount (161.17 HUF). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 131B HUF
Revenue growth (YoY) +24.3%
Net margin 0.2%
Return on equity 0.5%
Free cash flow −4.8B HUF FY2025
P/E ratio 26.6
More key figures
Operating margin 1.2%
EPS (TTM) 126.82 HUF
EPS growth (YoY) -81.2%
Net debt 45.9B HUF FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 41 · Market factors (momentum, volatility) 45

Profitability 37
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 26
Balance sheet, leverage, solvency risk
Investment 22
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)
Net Issuance 90
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

ALTEO Energy Services Public Limited Company produces and sells electricity and heat in Hungary. The company operates through the Heat and Electricity Production and Management; Renewables-Based Energy Production; Energy Services; Circular Economy Management; Retail Energy Trade; and Other segments.

Full company description

ALTEO Energy Services Public Limited Company produces and sells electricity and heat in Hungary. The company operates through the Heat and Electricity Production and Management; Renewables-Based Energy Production; Energy Services; Circular Economy Management; Retail Energy Trade; and Other segments. It also engages in the retail trade of electricity and gas; operation and maintenance of energy generating assets and construction-installation activities; planning and management of the electricity production and heat generation and storage facilities; wholesale of waste and scrap; and production of renewable energy from solar, wind, and hydropower plants, as well as through biogas. In addition, the company offers waste management, collection, recovery, and sale of organic and inorganic waste services; ancillary and recycling services; renewable production management services; business and other consultancy services; non-hazardous waste treatment and disposal services; and desalinated water production, e-mobility, and asset management services. The company was formerly known as ALTEO Energiaszolgaltato Nyilvanosan Mukodo Reszvenytarsasag and changed its name to ALTEO Energy Services Public Limited Company in June 2021. ALTEO Energy Services Public Limited Company was founded in 2008 and is headquartered in Budapest, Hungary.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ALTEO Energy Services Public Limited reported revenue of 123B HUF in FY2025 versus 44.2B HUF in FY2021, a compound +29.2%/yr. Reported net income was 2.5B HUF in FY2025, compounding −19.0%/yr from FY2021.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
123B HUF
Latest YoY
+17.2%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.2%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+30.2%
Avg. growth/yr (7Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+31.0%
Revenue +29.2%/yr
FY21 44.2B HUF
FY22 103B HUF
FY23 99.0B HUF
FY24 105B HUF
FY25 123B HUF
Net income −19.0%/yr
FY21 5.9B HUF
FY22 12.9B HUF
FY23 12.8B HUF
FY24 9.6B HUF
FY25 2.5B HUF

ALTEO screens 48% overvalued. Compare with China Yangtze Power Co →

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Cite: Fair Value Calculator (2026). "ALTEO Energy Services Public Limited Fair Value". https://www.fairvalue-calculator.com/stock/ALTEO

Peer Group

Utilities - Renewable · 220 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 39 · Below median
Fair Value upside −48% · Below median
Return on equity (TTM) 0% · Below median
Return on assets 3% · Above median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 1% · Below median
Revenue growth 24% · Top 25%
Debt / equity 1.33× · Higher than median

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/E (TTM) 26.6× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 12
FUTURE 100 · sector 0
PAST 2 · sector 12
HEALTH 34 · sector 68
DIVIDEND 0 · sector 48

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Utilities - Renewable stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
China Yangtze Power Co 600900 ¥27.99 ¥25.13 -10%
Ørsted A/S ORSTED kr 149.70 kr 31.40 -79%
Huaneng Lancang River Hydropower Inc 600025 ¥9.81 ¥5.57 -43%
Adani Green Energy Limited ADANIGREEN ₹1,537 ₹170.50 -89%
AXIA Energia SA AXIAP $10.74 $9.65 -10%
VERBUND AG OEWA €58.65 €66.19 +13%
BEP BEP $32.33 $73.35 +127%
BEPUN BEPUN C$44.56 C$10.15 -77%
Fortum Oyj FORTUM €19.89 €13.90 -30%
China Longyuan Power Group 001289 ¥16.21 ¥8.23 -49%

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Frequently asked questions

Is ALTEO Energy Services Public Limited (ALTEO) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of 2,309 HUF versus a price of 4,450 HUF, about −48% (overvalued).
What is the fair value of ALTEO?
Our model-based fair value for ALTEO Energy Services Public Limited is 2,309 HUF (as of Jul 14, 2026), built from audited fundamentals. The current price is 4,450 HUF.
What is the quality score of ALTEO?
ALTEO Energy Services Public Limited has a Quality Score of 39/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of ALTEO Energy Services Public Limited (ALTEO)?
ALTEO Energy Services Public Limited reported trailing-twelve-month revenue of about 131B HUF (latest available figure, as of Jul 14, 2026).
What is the net profit margin of ALTEO?
The net profit margin of ALTEO Energy Services Public Limited is about 0.2%, meaning it keeps roughly 0.2% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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